I own a freehold residence in Locks Heath but nevertheless pay rent, why is this and what is this?
It is rare for properties in Locks Heath and has limited impact for conveyancing in Locks Heath but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Having spent time reading mumsnet.com for a conveyancing solicitor in Locks Heath, most advise that I must use a CQS assured solicitor. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with prudent and efficient conveyancing processes through the scheme protocol It covers numerous organisations who conduct conveyancing in Locks Heath.
We are selling our house in Locks Heath and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. Any high street Locks Heath lawyer would know this is not the case. For the life of me I don't know why the purchasers are using a web based conveyancing firm as opposed to a conveyancing solicitor in Locks Heath. Having lived in Locks Heath for six years we know that this is a non issue. Is it a good idea to contact our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Are there restrictive covenants that are commonly identified during conveyancing in Locks Heath?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Locks Heath. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm purchasing my first flat in Locks Heath with a mortgage from Accord Mortgages Ltd. The developers refused to reduce the price so I negotiated 6k of additionals instead. The sale representative advised me not disclose to my lawyer about this side-deal as it will jeopardize my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Should I be wary about brokers that I am dealing with are suggesting a factory type conveyancing firm rather than a local Locks Heath conveyancing company?
As with many professional services, often referrals from connections can be very helpful. Yet there are numerous people with a vested interest in a conveyancing matter; estate agents, mortgage brokers and banks might all suggest conveyancers to use. Sometimes the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there might be a financial incentive behind the recommendation. You are free to choose your own conveyancer. However, bear in mind that some mortgage providers operate an approved list of law firms you are obliged to use for the lender related work in your home move.